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Temporary switch to interest only?

chuffee · 2010-01-12 12:39:46

I currently have an £85k mortgage on a property that was worth £110k at the last valuation. After a fixed rate ended I'm on Abbey's SVR at 4.24% There is 25 years left on the mortgage and I've not overpaid at any point, it is not a joint mortgage. Given the high LTV I'm currently sitting on the high SVR for now as I don't…

Comments

chuffee Posts: 28 Forumite

12 January 2010 at 2:31PM

I've not spoken to Abbey since my fixed ended in June. Mainly because I assumed in the current climate I wouldn't get a fixed with my LTV but also while rates were so steady it seemed a resonable gamble to sit tight for a while. If I do fix now though, and plan to study from Sept 2011 I'll be tied in and stuck with what I get. I suppose it can't harm to ask what they're offering me though.

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